
John Atkinson
Senior Living & LTC Industry Practice Leader
Rapidly advancing technological and medical innovations, increasing government oversight, workforce challenges, growing litigation, and evolving consumer preferences are changing the senior living and long-term care landscape, while consumer demands for senior housing and services are rising.
Successful senior living and long-term care investors, owners, and operators are becoming even more innovative and resilient to the challenges of today and the future. Marsh’s Senior Living & LTC Industry Practice combines data and analytics, benchmarking, innovative risk transfer solutions, consulting expertise, and industry advocacy tailored to help mitigate and differentiate the risks facing independent living, assisted living, memory care, continuing care retirement communities, life plan communities, and skilled nursing facilities.
We work with you to understand what’s driving your business and the trends impacting your operations, and we have developed tools to help you create an effective, comprehensive risk management program that can positively impact your cost of risk. We can also add value to your risk management team, offering advice and solutions that help you achieve your objectives.
Our dedicated specialists take the time to understand your specific issues and work with you to design an insurance and risk management program tailored to your needs — driving resident and associate safety and reducing the overall cost of risk.
The senior living and long-term care industries contains many types of businesses, including independent living, assisted living, memory care, continuing care retirement communities, life plan communities and skilled nursing facilities.
Falls with injury are the most common clinical risk and claims exposure. As a result, a comprehensive falls management program is an important priority. Such a program includes support from all levels of the organization, along with well-developed systems, staff training, and ongoing monitoring and evaluating of the effectiveness of the program.
In addition, a robust incident reporting and investigation process is of utmost importance to identify opportunities for improving resident quality and safety, early identification of claims, and timely reporting of claims for applicable coverages.
Marsh’s team of clinical risk consultants and claim consultants can help identify areas of opportunity for your company’s falls management program and incident reporting and investigation processes.
Some of the top risk issues for owners and operators currently include:
These are just a few of the risks facing the senior living and long-term care industry. Marsh’s Senior Living & LTC Industry Practice specialists have the experience and tools to help you identify, analyze and mitigate these risks through an insurance and risk management program tailored to your specific needs.
Strain and sprain injuries associated with resident mobility assistance are oftentimes the most frequent and severe injuries to senor living and long-term care staff. The most effective way to prevent these injuries is through a safe resident mobility assistance program that incorporates:
Marsh’s team of risk consultants can help identify areas of opportunity for your company’s safe resident mobility assistance program.
Although senior living and long-term care providers will need property and general liability insurance similar to businesses in other industries, they will also need professional liability coverage to help protect from financial risk associated with resident injury.
Organizations should assess their unique exposures and vulnerabilities to design an insurance program, in consultation with their broker, that effectively helps reduce and manage risk. Additional coverages could include directors and officers (D&O), employment practices liability, and cyber, just to name a few.
In addition to exclusive capacity, Marsh offers insurance programs that include proprietary solutions for difficult coverage issues, such as punitive damages, sexual abuse and molestation, class action lawsuits and lender compliance retention issues.
Many industry associations provide education and training on state and federal regulations. Some of the most prominent organizations are Argentum, American Senior Housing Association (ASHA), AHCA/NCAL, and LeadingAge.
Marsh works closely with these industry organizations, as well as their state counterparts, to assist in developing benchmarks, solutions, presentations and training for industry members. We work with these organizations to help the industry understand claim trends, liability gaps, and other risk management issues.
Senior Living & LTC Industry Practice Leader
Senior Living & LTC Industry Practice Leader
Senior Living & LTC Industry Practice Leader